Liza Horvath

senior advocate

Liza Horvath has over 30 years’ experience in the estate planning and trust fields and is the president of Monterey Trust Management, a financial and trust management company. This is not intended to be legal or tax advice. Questions? Email liza@montereytrust.com or call 646-5262.

Recent articles

Seniors

Q: We have what I call a combined estate plan. A trust holds title to our home and our investment accounts have “pay on death” designations so they will pass to people and organizations we want to benefit after we are gone. A professional trustee is named to finish up our estate and his fees are based on the value of the trust assets. We figure that since the trustee will only deal with our house, we will save on trustee fees. What do you think?A: So, to break it down, a...

Seniors

Q: My son is leaving for college on the East Coast in August. Is there anything special I should consider, legally or financially, in preparing for this life change – both for my son and for me?A: As our children or grandchildren prepare to go off to college, it is understandable that we worry. For many kids, this may be the first time they are out on their own and fully in control of their day-to-day activities and responsibilities. No doubt you have done your best to instill...

Seniors

Q: Our elderly neighbor recently fell in her yard and it was only by chance that I heard her calling for help. While we waited for the ambulance, she asked me to call her sons and let them know what happened. When I went into her house to get the phone numbers, I discovered that she is a hoarder! We should have guessed – in all the years of living next door, she never asked us in and always kept the curtains drawn. She has been home from the hospital for two months and neither...

Seniors

Q: It was great to read about how you changed your diet and lifestyle in an effort to stave off Alzheimer’s disease. Besides cutting out junk food and meditating, what else can we do to keep our mind healthy?A: After witnessing family members and other loved ones succumb to cognitive decline or Alzheimer’s, I endeavored to learn as much as possible about why we tend to decline cognitively as we age and whether it is possible to alter the course. Two years of study and...

Seniors

Q: My dad passed away two years ago. My mom just got a notice from Experian addressed to my dad stating that a credit card he applied for was declined. Obviously, he did not apply for this card! Should I assume that the Social Security office did not notify the credit reporting agencies about his death?A: My condolences on the passing of your father. Your question surfaces a fairly widespread misconception regarding credit reporting agencies. The Social Security Administration does...

Seniors

Q: We did as you suggested and got an estate plan done by a lawyer. We transferred title of our assets to the trust but our lawyer mentioned that the title insurance on our home might not necessarily stay in effect because of this transfer. What does this mean and is it important?A: Transferring the title of your assets into the name of your new trust is an important step in the estate planning process. To retitle real estate, your attorney most likely prepared a grant deed for your...

Seniors

Q: Thank you for sharing your research and lifestyle changes. There is so much more to a senior’s life than money matters and you hit the nail on the head. Can you tell me more about the exercise you do every day?A: I received a lot of positive feedback on last week’s column and I am happy to expand on what I do in terms of daily exercise. First, before taking on a new exercise or nutrition program, consult with your doctor. It is important to remember, however, that...

Seniors

Instead of my normal column about trusts, estates and finance, I am sharing research I have pursued for the past two years which has made a significant improvement in my life and that of my family. I hope you will benefit from my experience.My odyssey began when I read Dale E. Bredesen, MD’s book, “The End of Alzheimer’s.” Bredesen states that Alzheimer’s and cognitive decline is not only diagnosable, but preventable and reversible. Those of us who...

Seniors

Q: You recently wrote about a trustee selling assets to pay caregiver expenses. I am trustee for my mom and she needs caregivers round the clock. She has stock investments and real estate. How do I decide what to sell and in what order those sales should take place?A: A reader had asked if the trustee of his parents’ trust had the right to sell farm property that was specially bequeathed to him in their trust. His mom was still living and needed care; the farmland was an asset...

Seniors

Q: My mom and dad were married for many years. When mom died, dad got remarried and, for the most part, we (kids) got along with step-mom. That was until dad died last year. Step-mom had him cremated and refused to let us have any say over what to do with his cremains. She had them scattered in the bay and told us about it a week later! She wanted him scattered there because that’s what she wants done when she dies. My sister is heartsick and I am just mad. We think we should have...